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Every business operating in Nicosia, Cyprus must be registered and licensed according to Cyprus’s Companies Law, Cap. 113. This procedure includes identifying the right business structure, filing the required documents such as Memorandum and Articles of Association, and obtaining necessary licenses to operate.
Navigating the complexities of business registration law can be challenging. A lawyer can provide valuable guidance on legal matters, paperwork, and procedures. Furthermore, if you plan to have a complex business structure or face issues like tax implications and shareholder agreements, legal advice will be invaluable.
The key aspect to note is the obligation to register your business with the Registrar of Companies and Official Receiver (ROC) under the Ministry of Energy, Commerce and Industry. It's crucial to comply with the Companies Law on matters like business structure, capital, directors, secretaries and shareholders. The ROC also oversees company naming and the registration of company charges, among other matters. Maintaining yearly records is also required by law.
There are several types including sole trader, limited company, partnership and overseas company.
The process includes choosing a company name, creating a company’s Memorandum and Articles of Association, filing relevant documents with ROC, paying the registration fee, and then applying for any necessary licenses.
Typically, the process takes about 15 working days, but this can vary depending on the complexity of your business and whether all your documents are in order.
Yes, foreigners are allowed to establish a company in Cyprus. However, they must obtain necessary permits, and depending on their nationality, they may face additional requirements.
No, you do not need to renew your business registration. However, companies are required to submit Annual Returns to the Registrar of Companies.
The Department of the Registrar of Companies and Official Receiver and the Cyprus Chamber of Commerce and Industry are key resources for business registration. The Ministry of Energy, Commerce, and Industry offers comprehensive information on starting a business in Cyprus.
If you need legal assistance in business registration in Nicosia, Cyprus, you should contact a business lawyer or a legal firm specializing in corporate law. They can provide the guidance and resources you need to ensure your business registration process is correctly and thoroughly completed.
